Morey & Quinn Wealth Partners LLC Acquires Shares of 2,616 The Home Depot, Inc. (NYSE:HD)

Morey & Quinn Wealth Partners LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,616 shares of the home improvement retailer’s stock, valued at approximately $1,018,000. Home Depot comprises approximately 0.9% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 25th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after purchasing an additional 433,126 shares during the period. Fisher Asset Management LLC grew its stake in Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after buying an additional 125,441 shares during the last quarter. FMR LLC increased its position in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after buying an additional 409,890 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HD. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Stock Performance

NYSE:HD opened at $360.90 on Wednesday. The company has a market cap of $358.50 billion, a P/E ratio of 24.52, a P/E/G ratio of 4.03 and a beta of 1.09. The firm’s 50 day moving average is $392.82 and its two-hundred day moving average is $399.16. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.82 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.